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Big news about your pension

28 September 2022

Today we received some big news with regards the USS pension scheme.

First, it was announced that USS CEO Bill Galvin, the architect of the disastrous 2021 valuation, will leave his role. With Bill gone, the path to restoring benefits and securing a new valuation could become much clearer.

Second, the University of Cambridge has now confirmed at a meeting of its Pensions Working Group, on which UCU sit, that USS benefits could be restored at no extra cost. The university's actuary advisors, who performed the analysis, also confirmed that restoring benefits would leave the scheme still in surplus.

The arguments against revoking the cuts and restoring pension benefits have fallen apart, whilst our position has only become stronger.

But we cannot simply rely on vice chancellors doing what is right, we must also show them our power. And we can only do that by delivering a strong YES vote in this ballot.

If you haven't voted and posted your ballot paper yet, please do so as soon as possible and let us know.

If you haven't received a ballot paper or have lost it, request a replacement here.

Yours in solidarity,

Jo Grady
UCU general secretary

Last updated: 29 September 2022